KAD dot Com ready for U dot Com
Opening early April
Kad Suan Kaew will be opening the largest IT center in
the northern region in the beginning of April. The project, aptly named
KAD.COM, will be ready for launch on the 1st of April at Zone C on the third
Many companies are taking part in KAD.COM, with some
coming from Bangkok’s Panthip Plaza, producing an “IT City”, a
computer accessories and service center providing all IT needs including
scanners, printers, modems, networks and other peripherals.
In addition, Advance Research Co Ltd. will open their
well-known bookstore ‘AR4U’ offering IT books and a coffee corner inside
the store. To continue with the IT theme, a food court is planned, named
FOOD.COM to serve customers with food and beverages.
More than 1,000 square meters have been reserved by
companies from Panthip Plaza but there is still space available for the
northern investors. Contact Kad Suan Kaew 0 5322 4444 ext 19928.
Dividend tax may be abolished
The Ministry of Finance is considering the feasibility of
abolishing taxes on dividends to avoid duplication with corporate tax.
Suchart Chaowisit said that abolishing dividend taxes would benefit
investors, but that the Finance Ministry also had to ensure that abolition
would not affect the national budget.
The Thai stock market’s recovery has been slow and the
Middle East conflict will not improve matters. Suhcart expressed hope that
the effects would only be short term, saying that the Thai economy is now
based on strong fundamentals.
The finance minister said that the government is
developing the role of the debenture market because investors are looking
for low-risk investments.
The issuing of new government bonds, developing the
debenture trading system and pushing for the establishment of a repayment
center for the private and public sectors are all measures being taken to
improve the investment climate.
Meanwhile, Kittirat Na Ranong, marketing manager of the
Stock Exchange of Thailand (SET) said that the SET had no plans to close the
SET or put a temporary stop to trading during the war between the US and
Iraq, but promised that the SET would provide investors with up to date
information on the latest situations.
Tough regulations for fruit and vegetable exports will
prevent trade barriers
The Ministry of Commerce is preparing regulations
governing the export of fruit and vegetables to seven major export markets
to help prevent the imposition of trade barriers.
The deputy agriculture minister announced the measures in
the wake of a recent ban on the import of Thai longans imposed by China,
which claims to have found insecticide and toxin residue in them.
Newin Chidchob said that China’s stance showed that the
world was becoming increasingly conscious of health issues, and in
particular chemical residue in agricultural products. He said the Ministry
of Agriculture and Cooperatives had called on the Ministry of Commerce to
issue regulations governing the export of fruit and vegetables to seven
major markets - the European Union, the United States, Singapore, China,
Hong Kong, Canada and Japan.
Any fruit and vegetables exported to these countries will
first have to receive certification from the Ministry of Agriculture to
prove that they had been inspected for crop pests and chemical residue.
Thailand is anxious to protect its lucrative fruit and vegetable markets,
which earn it around 20 billion baht each year.
Newin conceded that Thailand had to modify its goods in
the light of the increasing pressure to upgrade its export products to boost
its export competitiveness. He promised that the new regulations would not
delay exports, as the ministry had already laid down mechanisms to ensure
that exporters will not meet with any obstacles. (TNA)
Energy efficiency in industrial sector necessary in order to peg oil price
The government is likely to use money earmarked for
boosting national competitiveness to peg the price of petrol, as it
scrambles to find ways to combat soaring oil prices. One way to do this is
to promote energy saving campaigns in factories.
Energy Minister Dr. Prommin Lertsuridej says that the
Energy Conservation Promotion Fund committee was ordered to do studies on
energy consumption in the industrial sector. Some sectors recorded increased
energy use in line with economic expansion while in others sectors the
energy consumption remained stable. This is an indication there is room for
greater efficiency. “Promoting energy efficiency in factories should lead
to a reduction in peak electricity consumption”, Dr. Prommin said.
The construction of a single new electricity generating
station would require investment of around US$1 billion. The committee has
worked out numbers that show if the peak rate could be reduced by 1,000
megawatts per year not only would the government save this money in
investment, it would also save the money otherwise spent on the interest on
borrowing this sum.
Industry Minister Somsak Thepsuthin said that he had
ordered factories under the ministry’s jurisdiction to focus on saving
energy, and that the National Productivity Institute in particular had
worked hard to modify its equipment to cut down on fuel use.
Despite government efforts to campaign for the efficient
use of energy, Thailand’s oil consumption in January actually rose by 8%
on the previous year’s figures. Critics have suggested that the
government’s decision to peg the price of oil has led to complacency among
the general public.